Bob Bangerter considers the Blue Chip "saga" over and is now working as a property consultant under the name Bob James. The co-founder of the collapsed finance company told the Herald he was using his middle name because his surname was "difficult to spell".

The New Zealand Herald
May 28, 2010

It's a Bob each way - and no Blue Chip
Kelly Gregor

Bob Bangerter. Photo / Paul Estcourt

Bob Bangerter considers the Blue Chip "saga" over and is now working as a property consultant under the name Bob James.

The co-founder of the collapsed finance company told the Herald he was using his middle name because his surname was "difficult to spell".

Mr Bangerter, 74, who is living in South Auckland, said he worked as a property consultant.

"I'm a consultant, and I sell property for a builder but I'm not in real estate as such. I sometimes - to make it easier for some people - call myself Bob James."

He said his work was nothing to do with Blue Chip.

"As far as I am concerned the Blue Chip saga is over. I have been cleared by everybody - the Companies Office, the Serious Fraud Office. I was not a director of Blue Chip or had access to any of the bank accounts. I'm 74, I'm trying to lead a normal life."

Mr Bangerter is acting as a consultant for the Manukau property developer Ramwell Homes.

Managing director Arjun Sami said he knew Bob James was the co-founder of Blue Chip and added that Mr Bangerter was not an employee of Ramwell.

Mr Bangerter was not charged with any Blue Chip-related offences.

Last week, former Blue Chip director and Sydney resident Mark Bryers was sentenced in the Auckland District Court on 34 book- and record-keeping charges.

Scores of elderly investors crammed into the small courtroom to see Bryers being fined $37,500 and ordered to complete 75 hours of community work.

Blue Chip investors lost more than $80 million when the company collapsed in 2008.